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2 min read | Updated on September 23, 2024, 09:43 IST
SUMMARY
HDB Financial IPO will be a fresh issuance of equity shares valued at ₹2,500 crore and an offer-for-sale (OFS) component by existing shareholders.
HDB Financial Services Board approves IPO.
HDB Financial IPO will be a fresh issuance of equity shares valued at ₹2,500 crore and an offer-for-sale (OFS) component by existing shareholders.
In a statement on Friday, September 20, the company said that it has approved an initial share sale of equity shares of face value of ₹10 each, "comprising of a fresh issue of equity shares aggregating up to ₹2,500 crore and an offer for sale of equity shares by existing and eligible shareholders of the Company who may offer to tender their equity shares which is subject to approval of the shareholders of the company, market conditions, receipt of applicable approvals, regulatory clearances and other considerations".
The share sale is being conducted to comply with the Reserve Bank of India's (RBI's) regulations, which mandate upper-layer non-banking finance companies to be listed on stock exchanges by September 2025.
HDB Financial Services is a leading non-banking financial company (NBFC) that provides personal loans, business loans, and vehicle loans, among other financial products.
Established in 2007, the company's line of business includes lending and BPO services.
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